| 1 | 1 | | FIRSTREGULARSESSION |
|---|
| 2 | 2 | | HOUSEBILLNO.153 |
|---|
| 3 | 3 | | 103RDGENERALASSEMBLY |
|---|
| 4 | 4 | | INTRODUCEDBYREPRESENTATIVEO'DONNELL. |
|---|
| 5 | 5 | | 0835H.01I DANARADEMANMILLER,ChiefClerk |
|---|
| 6 | 6 | | ANACT |
|---|
| 7 | 7 | | Torepealsections67.2800,67.2810,67.2815,67.2817,67.2830,and67.2840,RSMo,andto |
|---|
| 8 | 8 | | enactinlieuthereofsixnewsectionsrelatingtothepropertyassessmentcleanenergy |
|---|
| 9 | 9 | | act. |
|---|
| 10 | 10 | | BeitenactedbytheGeneralAssemblyofthestateofMissouri,asfollows: |
|---|
| 11 | 11 | | SectionA.Sections67.2800,67.2810,67.2815,67.2817,67.2830,and67.2840, |
|---|
| 12 | 12 | | 2RSMo,arerepealedandsixnewsectionsenactedinlieuthereof,tobeknownassections |
|---|
| 13 | 13 | | 367.2800,67.2810,67.2815,67.2817,67.2830,and67.2840,toreadasfollows: |
|---|
| 14 | 14 | | 67.2800.1.Sections67.2800to67.2840shallbeknownandmaybecitedasthe |
|---|
| 15 | 15 | | 2"PropertyAssessmentCleanEnergyAct". |
|---|
| 16 | 16 | | 3 2.Asusedinsections67.2800to67.2840,thefollowingwordsandtermsshallmean: |
|---|
| 17 | 17 | | 4 (1)"Assessmentcontract",acontractenteredintobetweenacleanenergy |
|---|
| 18 | 18 | | 5developmentboardandapropertyownerunderwhichthepropertyowneragreestopayan |
|---|
| 19 | 19 | | 6annualassessmentforaperiodofupto[twenty] thirtyyearsnottoexceedtheweighted |
|---|
| 20 | 20 | | 7averageusefullifeofthequalifiedimprovementsinexchangeforfinancingofanenergy |
|---|
| 21 | 21 | | 8efficiencyimprovementorarenewableenergyimprovement; |
|---|
| 22 | 22 | | 9 (2)"Authority",thestateenvironmentalimprovementandenergyresourcesauthority |
|---|
| 23 | 23 | | 10establishedundersection260.010; |
|---|
| 24 | 24 | | 11 (3)"Bond",anybond,note,orsimilarinstrumentissuedbyoronbehalfofaclean |
|---|
| 25 | 25 | | 12energydevelopmentboard; |
|---|
| 26 | 26 | | 13 (4)"Cleanenergyconduitfinancing",thefinancingofenergyefficiency |
|---|
| 27 | 27 | | 14improvementsorrenewableenergyimprovementsforasingleparcelofpropertyora |
|---|
| 28 | 28 | | EXPLANATION—Matterenclosedinbold-facedbrackets[thus] intheabovebillisnotenactedandis |
|---|
| 29 | 29 | | intendedtobeomittedfromthelaw.Matterinbold-facetypeintheabovebillisproposedlanguage. 15unifieddevelopmentconsistingofmultipleadjoiningparcelsofpropertyundersection |
|---|
| 30 | 30 | | 1667.2825; |
|---|
| 31 | 31 | | 17 (5)"Cleanenergydevelopmentboard",aboardformedbyoneormoremunicipalities |
|---|
| 32 | 32 | | 18undersection67.2810; |
|---|
| 33 | 33 | | 19 (6)"Director",thedirectorofthedivisionoffinancewithinthedepartmentof |
|---|
| 34 | 34 | | 20commerceandinsurance; |
|---|
| 35 | 35 | | 21 (7)"Division",thedivisionoffinancewithinthedepartmentofcommerceand |
|---|
| 36 | 36 | | 22insurance; |
|---|
| 37 | 37 | | 23 (8)"Energyefficiencyimprovement",anyacquisition,installation,ormodificationon |
|---|
| 38 | 38 | | 24orofpubliclyorprivatelyownedpropertydesignedtoreducetheenergyconsumptionofsuch |
|---|
| 39 | 39 | | 25property,includingbutnotlimitedto: |
|---|
| 40 | 40 | | 26 (a)Insulationinwalls,roofs,attics,floors,foundations,andheatingandcooling |
|---|
| 41 | 41 | | 27distributionsystems; |
|---|
| 42 | 42 | | 28 (b)Stormwindowsanddoors,multiglazedwindowsanddoors,heat-absorbingor |
|---|
| 43 | 43 | | 29heat-reflectivewindowsanddoors,andotherwindowanddoorimprovementsdesignedto |
|---|
| 44 | 44 | | 30reduceenergyconsumption; |
|---|
| 45 | 45 | | 31 (c)Automaticenergycontrolsystems; |
|---|
| 46 | 46 | | 32 (d)Heating,ventilating,orairconditioningdistributionsystemmodificationsand |
|---|
| 47 | 47 | | 33replacements; |
|---|
| 48 | 48 | | 34 (e)Caulkingandweatherstripping; |
|---|
| 49 | 49 | | 35 (f)Replacementormodificationoflightingfixturestoincreaseenergyefficiencyof |
|---|
| 50 | 50 | | 36thelightingsystemwithoutincreasingtheoverallilluminationofthebuildingunlessthe |
|---|
| 51 | 51 | | 37increaseinilluminationisnecessarytoconformtoapplicablestateorlocalbuildingcodes; |
|---|
| 52 | 52 | | 38 (g)Energyrecoverysystems;and |
|---|
| 53 | 53 | | 39 (h)Daylightingsystems; |
|---|
| 54 | 54 | | 40 (9)"Municipality",anycounty,city,orincorporatedtownorvillageofthisstate; |
|---|
| 55 | 55 | | 41 (10)"Programadministrator",anindividualorentityselectedbythecleanenergy |
|---|
| 56 | 56 | | 42developmentboardtoadministerthePACEprogram,butthistermdoesnotincludean |
|---|
| 57 | 57 | | 43employeeofacountyormunicipalgovernmentassignedtoacleanenergydevelopmentboard |
|---|
| 58 | 58 | | 44orapublicemployeeemployedbyacleanenergydevelopmentboardwhoispaidfrom |
|---|
| 59 | 59 | | 45appropriatedgeneraltaxrevenues; |
|---|
| 60 | 60 | | 46 (11)"Project",anyenergyefficiencyimprovementorrenewableenergy |
|---|
| 61 | 61 | | 47improvement; |
|---|
| 62 | 62 | | 48 (12)"Propertyassessedcleanenergylocalfinancefund",afundthatmaybe |
|---|
| 63 | 63 | | 49establishedbytheauthorityforthepurposeofmakingloanstocleanenergydevelopment |
|---|
| 64 | 64 | | 50boardstoestablishandmaintainpropertyassessedcleanenergyprograms; |
|---|
| 65 | 65 | | HB153 2 51 (13)"Propertyassessedcleanenergyprogram"or"PACEprogram",aprogram |
|---|
| 66 | 66 | | 52establishedbyacleanenergydevelopmentboardtofinanceenergyefficiencyimprovements |
|---|
| 67 | 67 | | 53orrenewableenergyimprovementsundersection67.2820; |
|---|
| 68 | 68 | | 54 (14)"Renewableenergyimprovement",anyacquisitionandinstallationofafixture, |
|---|
| 69 | 69 | | 55product,system,device,orcombinationthereofonpubliclyorprivatelyownedpropertythat |
|---|
| 70 | 70 | | 56producesenergyfromrenewableresources,including,butnotlimitedtophotovoltaic |
|---|
| 71 | 71 | | 57systems,solarthermalsystems,windsystems,biomasssystems,orgeothermalsystems. |
|---|
| 72 | 72 | | 58 3.Allprojectsundertakenundersections67.2800to67.2840aresubjecttothe |
|---|
| 73 | 73 | | 59applicablemunicipality'sordinancesandregulations,includingbutnotlimitedtothose |
|---|
| 74 | 74 | | 60ordinancesandregulationsconcerningzoning,subdivision,building,firesafety,andhistoric |
|---|
| 75 | 75 | | 61orarchitecturalreview. |
|---|
| 76 | 76 | | 62 4.Sections67.2800to67.2840shallnotapplytoanyassessmentcontract, |
|---|
| 77 | 77 | | 63project,orPACEprogramenteredinto,undertaken,orestablishedforanyresidential |
|---|
| 78 | 78 | | 64property. |
|---|
| 79 | 79 | | 67.2810.1.Oneormoremunicipalitiesmayformcleanenergydevelopmentboards |
|---|
| 80 | 80 | | 2forthepurposeofexercisingthepowersdescribedinsections67.2800to67.2840.Each |
|---|
| 81 | 81 | | 3cleanenergydevelopmentboardshallconsistofnotlessthanthreemembers,assetforthin |
|---|
| 82 | 82 | | 4theordinanceororderestablishingthecleanenergydevelopmentboard.Membersshallserve |
|---|
| 83 | 83 | | 5termsassetforthintheordinanceororderestablishingthecleanenergydevelopmentboard |
|---|
| 84 | 84 | | 6andshallbeappointed: |
|---|
| 85 | 85 | | 7 (1)Ifonlyonemunicipalityisparticipatinginthecleanenergydevelopmentboard, |
|---|
| 86 | 86 | | 8bythechiefelectedofficerofthemunicipalitywiththeconsentofthegoverningbodyofthe |
|---|
| 87 | 87 | | 9municipality;or |
|---|
| 88 | 88 | | 10 (2)Ifmorethanonemunicipalityisparticipating,inamanneragreedtobyall |
|---|
| 89 | 89 | | 11participatingmunicipalities. |
|---|
| 90 | 90 | | 12 2.Acleanenergydevelopmentboardshallbeapoliticalsubdivisionofthestateand |
|---|
| 91 | 91 | | 13shallhaveallpowersnecessaryandconvenienttocarryoutandeffectuatetheprovisionsof |
|---|
| 92 | 92 | | 14sections67.2800to67.2840,includingbutnotlimitedtothefollowing: |
|---|
| 93 | 93 | | 15 (1)Toadopt,amend,andrepealbylaws,whicharenotinconsistentwithsections |
|---|
| 94 | 94 | | 1667.2800to67.2840; |
|---|
| 95 | 95 | | 17 (2)Toadoptanofficialseal; |
|---|
| 96 | 96 | | 18 (3)Tosueandbesued; |
|---|
| 97 | 97 | | 19 (4)Tomakeandenterintocontractsandotherinstrumentswithpublicandprivate |
|---|
| 98 | 98 | | 20entities; |
|---|
| 99 | 99 | | 21 (5)Toacceptgrants,guarantees,anddonationsofproperty,labor,services,andother |
|---|
| 100 | 100 | | 22thingsofvaluefromanypublicorprivatesource, includingtheacquisitionofloansor |
|---|
| 101 | 101 | | 23assessmentcontractsfromotherstatesortheirmunicipalitiesandpoliticalsubdivisions |
|---|
| 102 | 102 | | HB153 3 24toserveacommonpurposeofprovidingfinancingsupportorcreditenhancementfor |
|---|
| 103 | 103 | | 25anyproject; |
|---|
| 104 | 104 | | 26 (6)Toemployorcontractforsuchmanagerial,legal,technical,clerical,accounting, |
|---|
| 105 | 105 | | 27orotherassistanceitdeemsadvisable; |
|---|
| 106 | 106 | | 28 (7)Tolevyandcollectspecialassessmentsunderanassessmentcontractwitha |
|---|
| 107 | 107 | | 29propertyownerandtorecordsuchspecialassessmentsasalienontheproperty; |
|---|
| 108 | 108 | | 30 (8)Toborrowmoneyfromanypublicorprivatesourceandissuebondsandprovide |
|---|
| 109 | 109 | | 31securityfortherepaymentofthesame; |
|---|
| 110 | 110 | | 32 (9)Tofinanceaprojectunderanassessmentcontract; |
|---|
| 111 | 111 | | 33 (10)Tocollectreasonablefeesandchargesinconnectionwithmakingandservicing |
|---|
| 112 | 112 | | 34assessmentcontractsandinconnectionwithanytechnical,consultative,orprojectassistance |
|---|
| 113 | 113 | | 35servicesoffered; |
|---|
| 114 | 114 | | 36 (11)Toinvestanyfundsnotrequiredforimmediatedisbursementinobligationsof |
|---|
| 115 | 115 | | 37thestateofMissourioroftheUnitedStatesoranyagencyorinstrumentalitythereof,orin |
|---|
| 116 | 116 | | 38bankcertificatesofdeposit;provided,however,thelimitationsoninvestmentsprovidedin |
|---|
| 117 | 117 | | 39thissubdivisionshallnotapplytoproceedsacquiredfromthesaleofbondswhichareheldby |
|---|
| 118 | 118 | | 40acorporatetrustee;and |
|---|
| 119 | 119 | | 41 (12)Totakewhateveractionsnecessarytoparticipateinandadministeraclean |
|---|
| 120 | 120 | | 42energyconduitfinancingorapropertyassessedcleanenergyprogram. |
|---|
| 121 | 121 | | 43 3.NolaterthanJulyfirstofeachyear,thecleanenergydevelopmentboardshallfile |
|---|
| 122 | 122 | | 44witheachmunicipalitythatparticipatedintheformationofthecleanenergydevelopment |
|---|
| 123 | 123 | | 45boardandwiththedirectorofthedepartmentofnaturalresourcesanannualreportforthe |
|---|
| 124 | 124 | | 46precedingcalendaryearthatincludes: |
|---|
| 125 | 125 | | 47 (1)Abriefdescriptionofeachprojectfinancedbythecleanenergydevelopment |
|---|
| 126 | 126 | | 48boardduringtheprecedingcalendaryear,whichshallincludethephysicaladdressofthe |
|---|
| 127 | 127 | | 49property,thenameornamesofthepropertyowner,anitemizedlistofthecostsoftheproject, |
|---|
| 128 | 128 | | 50andthenameofanycontractorsusedtocompletetheproject; |
|---|
| 129 | 129 | | 51 (2)Theamountofassessmentsdueandtheamountcollectedduringthepreceding |
|---|
| 130 | 130 | | 52calendaryear; |
|---|
| 131 | 131 | | 53 (3)Theamountofcleanenergydevelopmentboardadministrativecostsincurred |
|---|
| 132 | 132 | | 54duringtheprecedingcalendaryear; |
|---|
| 133 | 133 | | 55 (4)Theestimatedcumulativeenergysavingsresultingfromallenergyefficiency |
|---|
| 134 | 134 | | 56improvementsfinancedduringtheprecedingcalendaryear;and |
|---|
| 135 | 135 | | 57 (5)Theestimatedcumulativeenergyproducedbyallrenewableenergy |
|---|
| 136 | 136 | | 58improvementsfinancedduringtheprecedingcalendaryear. |
|---|
| 137 | 137 | | 59 4.Nolawsuittosetasidetheformationofacleanenergydevelopmentboardorto |
|---|
| 138 | 138 | | 60otherwisequestiontheproceedingsrelatedtheretoshallbebroughtaftertheexpirationof |
|---|
| 139 | 139 | | HB153 4 61sixtydaysfromtheeffectivedateoftheordinanceorordercreatingthecleanenergy |
|---|
| 140 | 140 | | 62developmentboard.Nolawsuittosetasidetheapprovalofaproject,anassessmentcontract, |
|---|
| 141 | 141 | | 63oraspecialassessmentleviedbyacleanenergydevelopmentboard,ortootherwisequestion |
|---|
| 142 | 142 | | 64theproceedingsrelatedtheretoshallbebroughtaftertheexpirationofsixtydaysfromthe |
|---|
| 143 | 143 | | 65datethattheassessmentcontractisexecuted. |
|---|
| 144 | 144 | | 67.2815.1.Acleanenergydevelopmentboardshallnotenterintoanassessment |
|---|
| 145 | 145 | | 2contractorlevyorcollectaspecialassessmentforaprojectwithoutmakingafindingthat |
|---|
| 146 | 146 | | 3therearesufficientresourcestocompletetheprojectandthattheestimatedeconomicbenefit |
|---|
| 147 | 147 | | 4expectedfromtheprojectduringthefinancingperiodisequaltoorgreaterthanthecostofthe |
|---|
| 148 | 148 | | 5project. |
|---|
| 149 | 149 | | 6 2.Anassessmentcontractshallbeexecutedbythecleanenergydevelopmentboard |
|---|
| 150 | 150 | | 7andthebenefittedpropertyownerorpropertyownersandshallprovide: |
|---|
| 151 | 151 | | 8 (1)Adescriptionoftheproject,includingtheestimatedcostoftheprojectanddetails |
|---|
| 152 | 152 | | 9onhowtheprojectwilleitherreduceenergyconsumptionorcreateenergyfromrenewable |
|---|
| 153 | 153 | | 10sources; |
|---|
| 154 | 154 | | 11 (2)Amechanismfor: |
|---|
| 155 | 155 | | 12 (a)Verifyingthefinalcostsoftheprojectuponitscompletion;and |
|---|
| 156 | 156 | | 13 (b)Ensuringthatanyamountsadvancedorotherwisepaidbythecleanenergy |
|---|
| 157 | 157 | | 14developmentboardtowardcostsoftheprojectwillnotexceedthefinalcostoftheproject; |
|---|
| 158 | 158 | | 15 (3)Anacknowledgmentbythepropertyownerthatthepropertyownerhasreceived |
|---|
| 159 | 159 | | 16orwillreceiveaspecialbenefitbyfinancingaprojectthroughthecleanenergydevelopment |
|---|
| 160 | 160 | | 17boardthatequalsorexceedsthetotalassessmentsdueundertheassessmentcontract; |
|---|
| 161 | 161 | | 18 (4)Anagreementbythepropertyownertopayannualspecialassessmentsfora |
|---|
| 162 | 162 | | 19periodnottoexceed[twenty] thirtyyears,asspecifiedintheassessmentcontract; |
|---|
| 163 | 163 | | 20 (5)Astatementthattheobligationssetforthintheassessmentcontract,includingthe |
|---|
| 164 | 164 | | 21obligationtopayannualspecialassessments,areacovenantthatshallrunwiththelandand |
|---|
| 165 | 165 | | 22beobligationsuponfutureownersofsuchproperty;and |
|---|
| 166 | 166 | | 23 (6)Anacknowledgmentthatnosubdivisionofpropertysubjecttotheassessment |
|---|
| 167 | 167 | | 24contractshallbevalidunlesstheassessmentcontractoranamendmentthereofdividesthe |
|---|
| 168 | 168 | | 25totalannualspecialassessmentduebetweenthenewlysubdividedparcelsproratatothe |
|---|
| 169 | 169 | | 26specialbenefitrealizedbyeachsubdividedparcel. |
|---|
| 170 | 170 | | 27 3.Thetotalspecialassessmentsleviedagainstapropertyunderanassessment |
|---|
| 171 | 171 | | 28contractshallnotexceedthesumofthecostoftheproject,includinganyrequiredenergy |
|---|
| 172 | 172 | | 29auditsandinspections,orportionthereoffinancedthroughtheparticipationinaproperty |
|---|
| 173 | 173 | | 30assessedcleanenergyprogramorcleanenergyconduitfinancing,includingthecostsofany |
|---|
| 174 | 174 | | 31auditsorinspectionsrequiredbythecleanenergydevelopmentboard,plussuch |
|---|
| 175 | 175 | | HB153 5 32administrationfees,interest,andotherfinancingcostsreasonablyrequiredbytheclean |
|---|
| 176 | 176 | | 33energydevelopmentboard. |
|---|
| 177 | 177 | | 34 4.Thecleanenergydevelopmentboardshallprovideacopyofeachsigned |
|---|
| 178 | 178 | | 35assessmentcontracttothelocalassessorandcollectorforthecounty,orcitynotwithina |
|---|
| 179 | 179 | | 36county,andshallcauseacopyofsuchassessmentcontracttoberecordedintherealestate |
|---|
| 180 | 180 | | 37recordsoftherecorderofdeedsforthecounty,orcitynotwithinacounty. |
|---|
| 181 | 181 | | 38 5.Specialassessmentsagreedtounderanassessmentcontractshallbealienonthe |
|---|
| 182 | 182 | | 39propertyagainstwhichitisassessedonbehalfoftheapplicablecleanenergydevelopment |
|---|
| 183 | 183 | | 40boardfromthedatethateachannualassessmentundertheassessmentcontractbecomesdue. |
|---|
| 184 | 184 | | 41Suchspecialassessmentsshallbecollectedbythecollectorforthecounty,orcitynotwithina |
|---|
| 185 | 185 | | 42county,inthesamemannerandwiththesamepriorityasadvaloremrealpropertytaxes[, |
|---|
| 186 | 186 | | 43subjecttotheprovisionsofsubsection8ofthissection]. Oncecollected,thecollectorforthe |
|---|
| 187 | 187 | | 44county,orcitynotwithinacounty,shallpayoversuchspecialassessmentrevenuestothe |
|---|
| 188 | 188 | | 45cleanenergydevelopmentboardinthesamemannerinwhichrevenuesfromadvaloremreal |
|---|
| 189 | 189 | | 46propertytaxesarepaidtoothertaxingdistricts.Suchspecialassessmentsshallbecollected |
|---|
| 190 | 190 | | 47asprovidedinthissubsectionfromallsubsequentpropertyowners,includingthestateandall |
|---|
| 191 | 191 | | 48politicalsubdivisionsthereof,forthetermoftheassessmentcontract. |
|---|
| 192 | 192 | | 49 6.Anycleanenergydevelopmentboardthatcontractsforoutsideadministrative |
|---|
| 193 | 193 | | 50servicestoprovidefinancingoriginationforaprojectshalloffertherightoffirstrefusalto |
|---|
| 194 | 194 | | 51enterintosuchacontracttoafederallyinsureddepositoryinstitutionwithaphysicalpresence |
|---|
| 195 | 195 | | 52inMissouriuponthesametermsandconditionsaswouldotherwisebeapprovedbytheclean |
|---|
| 196 | 196 | | 53energydevelopmentboard.Suchrightoffirstrefusalshallnotbeapplicabletothe |
|---|
| 197 | 197 | | 54originationofanytransactionthatinvolvestheissuanceofbondsbythecleanenergy |
|---|
| 198 | 198 | | 55developmentboard. |
|---|
| 199 | 199 | | 56 7.Exceptasotherwiseprovidedinsection67.2840,sections67.2816,67.2817, |
|---|
| 200 | 200 | | 5767.2818,and67.2819shallapplyonlytoPACEprogramsforprojectstoimproveresidential |
|---|
| 201 | 201 | | 58propertiesoffourorfewerunits.Notwithstandinganyprovisionoflawtothecontrary,any |
|---|
| 202 | 202 | | 59cleanenergydevelopmentboardformedtoimprovecommercialproperties,propertiesowned |
|---|
| 203 | 203 | | 60bynonprofitornot-for-profitentities,governmentalproperties,ornonresidentialpropertiesin |
|---|
| 204 | 204 | | 61excessoffourresidentialunitsshallbeexemptfromtheprovisionsofsections67.2816, |
|---|
| 205 | 205 | | 6267.2817,67.2818,and67.2819,norshallsuchsectionsapplytothecommercialPACE |
|---|
| 206 | 206 | | 63programsandcommercialPACEassessmentcontractsofanycleanenergydevelopment |
|---|
| 207 | 207 | | 64boardengagedinbothcommercialandresidentialpropertyprograms.Notwithstandingany |
|---|
| 208 | 208 | | 65provisionoflawtothecontrary,anycleanenergydevelopmentboardthatceasestofinance |
|---|
| 209 | 209 | | 66newprojectstoimproveresidentialpropertiesoffourorfewerunitsbeforeJanuary1,2022, |
|---|
| 210 | 210 | | 67shallbeexemptfromtheprovisionsofsections67.2816,67.2817,67.2818,and67.2819. |
|---|
| 211 | 211 | | HB153 6 67.2817.1.Notwithstandinganyothercontractualagreementtothecontrary,each |
|---|
| 212 | 212 | | 2assessmentcontractshallbereviewed,approved,andexecutedbythecleanenergy |
|---|
| 213 | 213 | | 3developmentboardandthesedutiesshallnotbedelegated.Anyattempteddelegationsof |
|---|
| 214 | 214 | | 4thesedutiesshallbevoid. |
|---|
| 215 | 215 | | 5 2.Anassessmentcontractshallnotbeapproved,executed,submitted,orotherwise |
|---|
| 216 | 216 | | 6presentedforrecordingunlessacleanenergydevelopmentboardverifiesthatthefollowing |
|---|
| 217 | 217 | | 7criteriaaresatisfied: |
|---|
| 218 | 218 | | 8 (1)ThePACEassessmentsareassessedinequalannualinstallments; |
|---|
| 219 | 219 | | 9 (2)ThePACEassessmentmaybepaidinfullatanytimewithoutprepayment |
|---|
| 220 | 220 | | 10penalty.Thepay-offlettershallspecifytheamountofanyfeeorchargebyalenderorloan |
|---|
| 221 | 221 | | 11serviceagenttoobtainthetotalbalancedue.Thereleaseoftheassessmentshallberecorded |
|---|
| 222 | 222 | | 12withinthirtydaysofthereceiptoftheamountsidentifiedinthepay-offletter; |
|---|
| 223 | 223 | | 13 (3)Theassessmentcontractshalldiscloseapplicablepenalties,interestpenalties,or |
|---|
| 224 | 224 | | 14latefeesunderthecontractanddescribegenerallytheinterestandpenaltiesimposedunder |
|---|
| 225 | 225 | | 15chapter140relatingtothecollectionofdelinquentpropertytaxes; |
|---|
| 226 | 226 | | 16 (4)Thecleanenergydevelopmentboardshallprovideaseparatestatementtothe |
|---|
| 227 | 227 | | 17owneroftheresidentialpropertyofthepenaltiesorlatefeesauthorizedundertheassessment |
|---|
| 228 | 228 | | 18contractandofthepenaltiesandinterestpenaltiesunderchapter140fortheapplicabletax |
|---|
| 229 | 229 | | 19collectorasofthedateoftheassessmentcontract; |
|---|
| 230 | 230 | | 20 (5)Thecleanenergydevelopmentboardhasconfirmedthatthepropertyowneris |
|---|
| 231 | 231 | | 21currentonpropertytaxesfortheprojectproperty; |
|---|
| 232 | 232 | | 22 (6)Thepropertythatshallbesubjecttotheassessmentcontracthasnorecordedand |
|---|
| 233 | 233 | | 23outstandinginvoluntaryliensinexcessofonethousanddollars; |
|---|
| 234 | 234 | | 24 (7)Thepropertyownershallnotcurrentlybeapartytoanybankruptcyproceeding |
|---|
| 235 | 235 | | 25whereanyexistinglienholderofthepropertyisnamedasacreditor; |
|---|
| 236 | 236 | | 26 (8)Thetermoftheassessmentcontractshallnotexceedtheweightedaverageuseful |
|---|
| 237 | 237 | | 27lifeofthequalifiedimprovementstowhichthegreatestportionoffundsdisbursedunderthe |
|---|
| 238 | 238 | | 28assessmentcontractisattributable,nottoexceed[twenty] thirtyyears.Thecleanenergy |
|---|
| 239 | 239 | | 29developmentboardshalldetermineusefullifeforpurposesofthissubdivisionbasedupon |
|---|
| 240 | 240 | | 30crediblethird-partystandardsorcertificationcriteriathathavebeenestablishedby |
|---|
| 241 | 241 | | 31appropriategovernmentagenciesornationallyrecognizedstandardsandtesting |
|---|
| 242 | 242 | | 32organizations; |
|---|
| 243 | 243 | | 33 (9)Thepropertyowneriscurrentonallmortgagedebtonthesubjectpropertyand |
|---|
| 244 | 244 | | 34hasnomorethanonelatepaymentduringthetwelvemonthsimmediatelyprecedingthe |
|---|
| 245 | 245 | | 35applicationdateonanymortgagedebt;and |
|---|
| 246 | 246 | | 36 (10)Thecleanenergydevelopmentboardshallnotenterintoanassessmentcontract |
|---|
| 247 | 247 | | 37orlevyorcollectaspecialassessmentforaprojectwithoutmakingafindingthatthereare |
|---|
| 248 | 248 | | HB153 7 38sufficientresourcestocompletetheprojectandthattheestimatedeconomicbenefitexpected |
|---|
| 249 | 249 | | 39fromtheprojectduringthefinancingperiodisequaltoorgreaterthanthecostoftheproject. |
|---|
| 250 | 250 | | 40 3.Anyassessmentcontractforaprojectthat,combinedwithanyexistingand |
|---|
| 251 | 251 | | 41outstandingindebtednesssecuredbythebenefittedproperty,resultsinaloan-to-valueratio |
|---|
| 252 | 252 | | 42betweeneightypercentandninety-sevenpercentofthetruevalueinmoney,asdeterminedby |
|---|
| 253 | 253 | | 43theassessorpursuanttochapter137,plustenpercentofsuchamount,ofthebenefitted |
|---|
| 254 | 254 | | 44propertypriortotheprojectasdeterminedbyreferencetotheassessmentrecordsfortax |
|---|
| 255 | 255 | | 45purposesforthemostrecentcompletedassessmentbythecounty,orcitynotwithinacounty, |
|---|
| 256 | 256 | | 46shallincludeprovisionofaninsurancepolicyprovidingcoverageforanyremainingcostof |
|---|
| 257 | 257 | | 47fulfillingtheassessmentcontract,includinganyaccumulatedinterest,intheeventthe |
|---|
| 258 | 258 | | 48propertyisforeclosedupon,ifsuchproductexists.Suchinsurancepolicyshallrunwiththe |
|---|
| 259 | 259 | | 49landinthesamemannerastheotherobligationssetforthintheassessmentcontract. |
|---|
| 260 | 260 | | 50 4.ThepropertyownerexecutingthePACEassessmentcontractshallhaveathree-day |
|---|
| 261 | 261 | | 51righttocancelthequalifyingimprovementsproposedforfinancingunderthePACE |
|---|
| 262 | 262 | | 52assessmentcontract.Thethree-dayrighttocancelshallexpireatmidnightofthethird |
|---|
| 263 | 263 | | 53businessdayafterapropertyownersignstheassessmentcontract.Thecleanenergy |
|---|
| 264 | 264 | | 54developmentboardshallberequiredtoprovideaprintedformthatispresentedtothe |
|---|
| 265 | 265 | | 55propertyownernolaterthanthetimeofsigningoftheassessmentcontractdetailingthe |
|---|
| 266 | 266 | | 56propertyowner'srighttocancel.Anelectronicformmaybeprovidediftheownerconsents |
|---|
| 267 | 267 | | 57electronicallytoreceivinganelectronicform. |
|---|
| 268 | 268 | | 58 5.Priortotheexecutionofanassessmentcontract,thecleanenergydevelopment |
|---|
| 269 | 269 | | 59boardshalladvisethepropertyownerinwritingthatanydelinquentassessmentshallbealien |
|---|
| 270 | 270 | | 60onthepropertysubjecttotheassessmentcontractandthattheobligationsunderthePACE |
|---|
| 271 | 271 | | 61assessmentcontractcontinueasanobligationagainsttheimprovedpropertyiftheproperty |
|---|
| 272 | 272 | | 62ownersellsorrefinancesthepropertyandthatapurchaserorlendermayrequirethatbefore |
|---|
| 273 | 273 | | 63theownermaysellorrefinancethepropertythattheownermayberequiredtopaythe |
|---|
| 274 | 274 | | 64assessmentcontractinfull. |
|---|
| 275 | 275 | | 65 6.Priortotheexecutionofanassessmentcontract,thecleanenergydevelopment |
|---|
| 276 | 276 | | 66boardshalladvisethepropertyownerinwritingthatifthepropertyownerpayshisorher |
|---|
| 277 | 277 | | 67propertytaxesandspecialassessmentsviaalenderorloanservicer'sescrowprogram,the |
|---|
| 278 | 278 | | 68specialassessmentwillcausetheowner'smonthlyescrowrequirementstoincreaseand |
|---|
| 279 | 279 | | 69increasetheowner'stotalmonthlypaymenttothelenderortheloanservicer.Theclean |
|---|
| 280 | 280 | | 70energydevelopmentboardshallfurtheradvisethepropertyownerthatifthespecial |
|---|
| 281 | 281 | | 71assessmentresultsinanescrowshortagethattheownerwillberequiredtopaytheshortagein |
|---|
| 282 | 282 | | 72alump-sumpaymentorcatchuptheshortageovertwelvemonths. |
|---|
| 283 | 283 | | 73 7.Thecleanenergydevelopmentboard,withinthreedaysofenteringanassessment |
|---|
| 284 | 284 | | 74contract,shallprovideanyholderofafirstmortgageloanacopyoftheassessmentcontract |
|---|
| 285 | 285 | | HB153 8 75andastatementthatincludesabriefdescriptionoftheproject,thecostoftheproject,the |
|---|
| 286 | 286 | | 76annualassessmentthatwillbelevied,andthenumberofannualassessments.Transmittal |
|---|
| 287 | 287 | | 77shallbebyUnitedStatesmailtotheholderofthefirstmortgageloanofrecord. |
|---|
| 288 | 288 | | 78 8.Thecleanenergydevelopmentboardshallmaintainapublicwebsitewithcurrent |
|---|
| 289 | 289 | | 79informationaboutthePACEprogramastheboarddeemsappropriatetoinformconsumers |
|---|
| 290 | 290 | | 80regardingthePACEprogram.ThewebsiteshalllistapprovedcontractorsforthePACE |
|---|
| 291 | 291 | | 81program.Thewebsiteshalldisclosetheprocessforpropertyownersortheirsuccessorsto |
|---|
| 292 | 292 | | 82requestinformationabouttheassessmentcontract,thestatusoftheassessmentcontract,and |
|---|
| 293 | 293 | | 83forallquestionsincludingcontractinformationtoobtainapayoffamountforthereleaseofan |
|---|
| 294 | 294 | | 84assessmentcontract. |
|---|
| 295 | 295 | | 85 9.Thecleanenergydevelopmentboard,itsagents,contractor,orotherthirdparty |
|---|
| 296 | 296 | | 86shallnotmakeanyrepresentationastotheincometaxdeductibilityofanassessment. |
|---|
| 297 | 297 | | 67.2830.1.Acleanenergydevelopmentboardmayissuebondspayablefromspecial |
|---|
| 298 | 298 | | 2assessmentrevenuesgeneratedbyassessmentcontractsandanyotherrevenuespledged |
|---|
| 299 | 299 | | 3thereto.Thebondsshallbeauthorizedbyresolutionofthecleanenergydevelopmentboard, |
|---|
| 300 | 300 | | 4shallbearsuchdateordates,andshallmatureatsuchtimeortimesastheresolutionshall |
|---|
| 301 | 301 | | 5specify,providedthatthetermofanybondsissuedforacleanenergyconduitfinancingshall |
|---|
| 302 | 302 | | 6notexceed[twenty] thirtyyears.Thebondsshallbeinsuchdenomination,bearinterestat |
|---|
| 303 | 303 | | 7suchrate,beinsuchform,beissuedinsuchmanner,bepayableinsuchplaceorplaces,and |
|---|
| 304 | 304 | | 8besubjecttoredemptionassuchresolutionmayprovide.Notwithstandinganyprovisionto |
|---|
| 305 | 305 | | 9thecontraryunderthissection,issuanceofthebondsshallconformtotherequirementsof |
|---|
| 306 | 306 | | 10subsection1ofsection108.170. |
|---|
| 307 | 307 | | 11 2.Anybondsissuedunderthissectionshallnotconstituteanindebtednessofthestate |
|---|
| 308 | 308 | | 12oranymunicipality.Neitherthestatenoranymunicipalityshallbeliableonsuchbonds,and |
|---|
| 309 | 309 | | 13theformofsuchbondsshallcontainastatementtosucheffect. |
|---|
| 310 | 310 | | 67.2840.1.Sections67.2816,67.2817,67.2818,and67.2819shallbeeffectiveand |
|---|
| 311 | 311 | | 2applyonlytotheresidentialPACEprogramsofcleanenergydevelopmentboardsand |
|---|
| 312 | 312 | | 3participatingmunicipalities[after] fromJanuary1,2022, toAugust28,2025.Beginning |
|---|
| 313 | 313 | | 4August28,2025,allresidentialpropertiesshallbeexemptfromtheprovisionsof |
|---|
| 314 | 314 | | 5sections67.2816to67.2819andnoassessmentcontract,project,orPACEprogramshall |
|---|
| 315 | 315 | | 6beenteredinto,undertaken,orestablishedforanyresidentialproperty. |
|---|
| 316 | 316 | | 7 2.Sections67.2816,67.2817,67.2818,and67.2819shallbeeffectiveandapplyonly |
|---|
| 317 | 317 | | 8toresidentialPACEassessmentcontractsenteredintoafterJanuary1,2022, butbefore |
|---|
| 318 | 318 | | 9August28,2025. |
|---|
| 319 | 319 | | âś” |
|---|
| 320 | 320 | | HB153 9 |
|---|